A well drafted trust instrument will generally prescribe the method and manner of amending the trust agreement. This form is a sample of a trustor amending the trust agreement in order to extend the term of the trust. It is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Wisconsin Agreement to Extend the Duration or Term of a Trust is a legal document that allows beneficiaries and trustees to extend the lifespan of a trust beyond its original termination date. This agreement is typically executed when the original terms of the trust are set to expire, but the beneficiaries or trustees believe that it is in their best interest to continue the trust for an extended period. In Wisconsin, there are two main types of agreements to extend the duration or term of a trust: 1. Agreement to Extend Trust Duration: This type of agreement allows the beneficiaries and trustees to collectively agree on extending the lifespan of the trust. By signing this agreement, they are essentially modifying the original terms to extend the trust beyond its initial termination date. 2. Court-Approved Agreement to Extend Trust Duration: In certain cases, beneficiaries and trustees may need to seek court approval to extend a trust. In Wisconsin, if the terms of the trust restrict its extension or if the beneficiaries cannot unanimously agree on the extension, a petition must be filed with the court. The court will evaluate the circumstances and decide whether to grant or deny the extension. Keywords: Wisconsin, Agreement to Extend the Duration or Term of a Trust, legal document, beneficiaries, trustees, lifespan, termination date, extend, original terms, modify, court-approved, petition, grant, deny.
